Definition of "Copayment"

Kristen Dunn real estate agent
Kristen Dunn, Real Estate Agent BlueCoast Realty Corporation

Partial payment of medical service expenses required in group health insurance, in addition to the membership fee. For example, for each visit of a physician a member may be required to pay $5, regardless of the expense of the services rendered. Or, for each prescription for drugs and medicines, the member may have to pay a flat $2 regardless of the actual cost.

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